Reuters Business News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals.
Updated: 3 years 45 weeks ago
Oil hits two-decade lows on low demand, storage woes
June oil futures plunged on Tuesday, as the panic that sent U.S. May futures to below minus $40 per barrel on Monday bled further into the markets due to worries about the coronavirus pandemic's effect on fuel demand in a market overrun by supply.
Categories: Reuters
Qatar Airways defers half of some employees' wages for three months
Qatar Airways on Tuesday said mid-level employees and above will have their salaries halved for at least three months but that staff would be back paid when the airline could afford it.
Categories: Reuters
Top House Republican McCarthy confirms deal reached on small business loan bill
The top Republican in the U.S. House of Representatives said on Tuesday that a deal had been reached to replenish funding for an emergency program that extends loans to small businesses hit by a drop in demand due to the coronavirus pandemic.
Categories: Reuters
IHS slashes 2020 global light vehicle sales outlook on coronavirus hit
Data firm IHS Markit sharply lowered its 2020 forecast for global light vehicle sales on Tuesday and warned that the United States will take the biggest hit from the coronavirus pandemic.
Categories: Reuters
Top U.S. House Republican confirms deal reached on small business loan bill
The top Republican in the U.S. House of Representatives said on Tuesday that a deal had been reached to replenish funding for an emergency program that extends loans to small businesses hit by a drop in demand due to the coronavirus pandemic.
Categories: Reuters
Analyst View: After U.S. oil futures crash, what next?
A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel as traders rushed to get rid of unwanted stocks with storage capacity already overflowing amid a coronavirus-induced demand collapse.
Categories: Reuters
Remember the 1980s glut: Ex-BP boss Browne warns oil will stay low
The oil price will stay low for some time as supply exceeds demand and the current situation on global oil markets is reminiscent of the 1980s oil glut, former BP boss John Browne said on Tuesday.
Categories: Reuters
Oil dip unsurprising, second-quarter GDP drop could be biggest ever: White House's Hassett
White House economic adviser Kevin Hassett said on Tuesday the current dip in oil prices is due to a "very short-run thing" and markets will find a new normal.
Categories: Reuters
Why Brent oil won't follow U.S. WTI futures below zero
Brent oil futures are set for extreme volatility when the front-month June contract expires next week, but they will avoid the historic plunge below zero that U.S. peer WTI has suffered, traders and analysts said.
Categories: Reuters
Dash for emergency cash provokes fund industry backlash
As companies pull the emergency cash cord to help them through the coronavirus crisis, shareholders have been split by an easing of the rules to make it easier for them to turn to investors with the deepest pockets.
Categories: Reuters
Chinese electric vehicle maker BYD's profit slumps after subsidy cuts
Chinese electric vehicle maker BYD Co Ltd , reported on Tuesday a 42% drop in 2019 profit, saying cuts in government subsidies and emissions rules changes had hit demand in the sector.
Categories: Reuters
U.S. existing home sales dive; prices still strong
U.S. home sales dropped by the most in nearly 4-1/2 years in March as extraordinary measures to control the spread of the novel coronavirus brought buyer traffic to a virtual standstill, supporting analysts' views that the economy contracted sharply in the first quarter.
Categories: Reuters
U.S. could see biggest ever second-quarter GDP decline: White House adviser Hassett
White House economic adviser Kevin Hassett said on Tuesday the current dip of negative oil prices is due to a "very short-run thing" - the coronavirus pandemic - and that a decline in second quarter gross domestic could be the biggest ever posted.
Categories: Reuters
UK made a firm decision on Huawei in 5G: foreign ministry's top official
Britain's government made a firm decision to allow China's Huawei to have a role in building the country's 5G phone network and as far as the foreign ministry's top official understands it is not being reopened, he said on Tuesday.
Categories: Reuters
Oil giveaway brings out the bears
The crash in U.S. crude prices has turned a reliable commodity less than worthless and given fresh urgency to bearish voices, who say it sounds alarm bells for global growth and are bracing for a catastrophic collapse in asset prices.
Categories: Reuters
Wall Street falls as U.S. crude collapse compounds pandemic woes
Wall Street retreated for a second straight day on Tuesday as a collapse in U.S. crude prices and glum annual profit forecasts by companies foreshadowed the biggest economic slump since the Great Depression due to the coronavirus outbreak.
Categories: Reuters
Coronavirus lockdowns to hurt Coca-Cola's second quarter sales
Coca-Cola Co said on Tuesday its expected current-quarter results to take a hit as restaurants, theaters and other venues that represent about half of the company's revenue remain closed because of the coronavirus pandemic.
Categories: Reuters
Chinese EV maker BYD profit down 42% in 2019, under pressure from subsidy cut
Chinese electric vehicle maker BYD Co Ltd , , which is backed by U.S. investor Warren Buffett, on Tuesday reported a 41.9% drop in 2019 net profit as China's EV subsidies cut hit customer demand.
Categories: Reuters
SAP reverts to sole CEO to handle coronavirus pandemic
The coronavirus pandemic has brought the latest experiment in dual leadership at SAP to an abrupt end as the German business software group named Christian Klein as its sole CEO to provide clarity to its 400,000 customers.
Categories: Reuters
SoftBank shares attractive near-term as buyback eyed: UK's AVI
SoftBank Group's planned $22.5 billion share buyback presents an attractive buying opportunity but it is not a clear longterm investment, said a London-based investor that has built up a small stake.
Categories: Reuters